Six years ago, Miguel invested $3,500. Today his investment is worth $5659. The internal rate of return

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Six years ago, Miguel invested $3,500. Today his investment is worth $5659. The internal rate of return on this investment is

A) -7.69%.

B) error 5.

C) 8.34%.

D) 10.28%.

Please show formula and calculation (NOT FROM EXCEL PLEASE) and explain it.

Related Book For answer-question

ISE Analysis For Financial Management

ISBN: 9781265042639

13th International Edition

Authors: Robert C. Higgins Professor, Jennifer Koski

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Posted Date: Apr 16, 2024 02:28 AM

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Six years ago, Miguel invested $3,500. Today his investment is worth $5659. The internal rate of return

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Expert Answer:

Internal Rate of Return IRR Calculation We can find the IRR using the Time Value of Money TVM concept Heres the formula and explanation Formula Future ... View the full answer

ISE Analysis For Financial Management

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